IFF announced the divestiture of its nitrocellulose business, including the Walsrode Industrial Park in Germany, to Czechoslovak Group (CSG). The transaction is expected to close in the first half of 2025.
The divested business manufactures nitrocellulose for industrial purposes, primarily serving customers in coatings and printing inks. This move allows IFF to further streamline its portfolio and concentrate on its core businesses.
CSG stated its intention to potentially include energetic nitrocellulose production for defense purposes over time, which would involve further investment and regulatory consultation. Financial details of the transaction were not disclosed.
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